According to the game’s pre-order announcement page on the PlayStation website, you will be able to get both PS4 and PS5 versions of Horizon Forbidden West if you get the game’s Digital Deluxe, Collector’s or Regalla Editions. If you get the Standard or Special Edition versions, then you’ll be locked to a single platform.
This comes as quite the bummer, as it means that if you don’t have a PS5 yet and have any intention to upgrade at all, you’ll need to get the Digital Deluxe edition at minimum. It does feel that players are being done dirty to some extent, especially if you have not been lucky enough to get the latest generation console. For what it’s worth, the PS4 version of Horizon Forbidden West will be priced at RM249, while the PS5 version will come in at RM299. The Digital Deluxe version has a RM339 price tag. No details on the prices for the physical editions like the Collector’s and Regalla editions yet at the time of writing. The game releases on 18 February 2022. (Source: PlayStation [1], [2], [3])